Salora International gains as board approves setting up of manufacturing unit in UP

Salora International surged 6.72% to Rs 61.95 at 11:14 IST on BSE, after the company's board of directors approved the proposal to set-up a manufacturing line for commercial production of mobile phones at company's factory premises at Noida, UP

The announcement was made before market hours today, 3 July 2015.

Meanwhile, the BSE Sensex was up 165.42 points, or 0.59%, to 28,111.22

On BSE, so far 22,000 shares were traded in the counter. The stock had an average daily volume of 6,216 shares in the past one quarter.

The stock hit a high of Rs 63.40 and a low of Rs 59.90 so far during the day. The stock hit a 52-week high of Rs 72.40 on 15 April 2015. The stock hit a 52-week low of Rs 28.10 on 29 September 2014.

The small-cap stock had outperformed the market over the past one month till 2 July 2015, rising 10.47% compared with 2.79% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 42.63% as against Sensex's 1.11% decline.

The company has an equity capital of Rs 8.81 crore. Face value per share is Rs 10.

Salora International said that the company's board of directors at its board meeting held yesterday, 2 July 2015 has approved the proposal to set-up a manufacturing line for commercial production of mobile phones at company's factory premises at Noida, Uttar Pradesh.

Salora International's net profit fell 41.8% to Rs 0.64 crore on 2.4% fall in net sales to Rs 86.66 crore in Q4 March 2015 over Q4 March 2014.

Salora International makes consumer electronics products.

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